Stock-Based Compensation, Restricted Stock and Stock Options (Tables)
|
9 Months Ended |
Dec. 31, 2020 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Schedule of stock based compensation expenses |
| |
|
Three months ended December 31, |
|
|
Nine months ended December 31, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Research and development expenses |
|
$ |
661,054 |
|
|
$ |
455,820 |
|
|
$ |
1,954,426 |
|
|
$ |
1,437,334 |
|
| Selling, general and administrative expenses |
|
|
972,284 |
|
|
|
896,291 |
|
|
|
9,010,677 |
|
|
|
2,781,142 |
|
| Total stock-based compensation |
|
$ |
1,633,338 |
|
|
$ |
1,352,111 |
|
|
$ |
10,965,103 |
|
|
$ |
4,218,476 |
|
|
| Schedule of restricted stock awards |
| |
|
Number
of Shares |
|
|
Weighted
Average Grant-Date
Fair Value |
|
| Unvested at March 31, 2020 |
|
|
1,250,003 |
|
|
$ |
0.82 |
|
| Granted |
|
|
1,333,333 |
|
|
$ |
1.38 |
|
| Canceled |
|
|
(1,250,003 |
) |
|
$ |
0.82 |
|
| Vested |
|
|
(1,333,333 |
) |
|
$ |
0.49 |
|
| Unvested at December
31, 2020 (unaudited) |
|
|
- |
|
|
$ |
- |
|
|
| Schedule of of stock options granted |
| |
|
Three months ended |
|
Nine months ended |
| |
|
December 31,
2020 |
|
December 31,
2020 |
| |
|
(Unaudited) |
|
(Unaudited) |
| Dividend yield |
|
0% |
|
0% |
| Expected price volatility |
|
50% |
|
40.4% - 50.0% |
| Risk free interest rate |
|
0.27% - 0.42% |
|
0.16% - 0.44% |
| Expected term |
|
5 years |
|
5-6 years |
|
| Schedule of stock options |
| |
|
Shares Underlying
Options |
|
|
Weighted Average
Exercise Price |
|
|
Weighted Average
Remaining
Contractual
Term (Years) |
|
|
Aggregate Intrinsic
Value |
|
| Outstanding at March 31, 2020 |
|
|
1,937,833 |
|
|
$ |
0.54 |
|
|
|
8.2 |
|
|
$ |
4,243,610 |
|
| Granted |
|
|
8,479,663 |
|
|
$ |
3.15 |
|
|
|
8.1 |
|
|
|
- |
|
| Outstanding at December 31, 2020 (Unaudited) |
|
|
10,417,496 |
|
|
$ |
2.64 |
|
|
|
8.2 |
|
|
$ |
13,227,560 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2020 (Unaudited) |
|
|
5,803,033 |
|
|
$ |
1.85 |
|
|
|
8.4 |
|
|
$ |
11,888,221 |
|
|
| Schedule of warrant activity |
| |
|
Shares Underlying
Warrants |
|
|
Weighted Average
Exercise Price |
|
|
Weighted Average
Remaining Contractual
Term (Years) |
|
|
Aggregate Intrinsic
Value |
|
| Outstanding at March 31, 2020 |
|
|
1,281,852 |
|
|
$ |
1.91 |
|
|
|
3.0 |
|
|
$ |
- |
|
| Issued |
|
|
1,121,488 |
|
|
$ |
4.65 |
|
|
|
4.9 |
|
|
|
|
|
| Exercised |
|
|
(116,667 |
) |
|
$ |
3.00 |
|
|
|
- |
|
|
|
|
|
| Outstanding at December 31, 2020 (Unaudited) |
|
|
2,286,673 |
|
|
$ |
2.66 |
|
|
|
3.8 |
|
|
$ |
2,918,734 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2020 (Unaudited) |
|
|
2,186,719 |
|
|
$ |
2.57 |
|
|
|
3.8 |
|
|
$ |
2,918,734 |
|
|
| Schedule of estimated the fair value of the warrants |
|
|
Three
months
ended |
|
|
Nine
months
ended |
|
| |
|
December
31,
2020 |
|
|
December
31,
2020 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Expected price volatility |
|
|
50.0 |
% |
|
|
50.0 |
% |
| Risk free interest rate |
|
|
2.3 |
% |
|
|
2.3%
- 2.4 |
% |
| Expected term |
|
|
5
years |
|
|
|
5
years |
|
|